"I understand Americans are anxious, and they’re anxious for good reason. I was raised in a household when the price of gasoline rose precipitously, it was a discussion at the table, it made a difference, when food prices went up. But we’ve never seen anything like Putin’s tax on both food and gas," Biden said during a visit to the Port of Los Angeles.
Earlier, he said that the United States must do more to bring down inflation that is raging at more than 40-year highs partly due to global price pressures elevated by the conflict in Ukraine.
"Even as we continue our work to defend freedom in Ukraine, we must do more - and quickly - to get prices down here in the United States," Biden said in a statement issued by the White House.
The White House statement came after the Labor Department said the US Consumer Price Index grew by 8.6% during the year to May, expanding by the fastest rate since 1981, as the cost increased again in May. The average price of gasoline at the pump in the United States hit more than $5 a gallon on Thursday for the first time ever, fuel price tracking service GasBuddy said.
The University of Michigan said its closely-followed US Consumer Sentiment Index hit a record low in its latest survey for June as Americans become increasingly disillusioned with inflation taking a bigger bite of their paycheck each month.
This is not the first time that Biden has blamed Russian President Vladimir Putin for the ever-increasing inflation and skyrocketing prices in the US. On Thursday, Putin made fun of the claims that he is personally responsible for the economic woes in Western countries:
"They are trying to limit exports of our fertilizers — prices have gone up, first of all, on their markets more than on ours. They are trying to limit our energy resources — prices skyrocketed again. They already call inflation after me, but we have absolutely nothing to do with it. No, seriously, it's true, but we have absolutely nothing to do with it. This is the result of their mistakes, and long-term ones," Putin said at a meeting with young entrepreneurs, developers of start-ups in the field of technology and innovation, agriculture, and the creative sector of the economy.